Active Income Portfolio

For those seeking a sustainable income strategy, with a difference.

About the Active Income Portfolio

Our philosophy at Market Matters has always been around active management, and our income portfolio stays true to label. Combining an active approach to income producing equities, ETFs and listed Income Securities such as Hybrids, the portfolio will satisfy those looking for sustainable income with significantly less volatility than the market.

**Portfolio Performance** UPDATED 31/08/2026 19:00
Portfolio	1M	6M	1y	3y	5y pa	ITD pa	Total
ACTIVE INCOME	0.81%	3.94%	9.09%	11.58%	9.76%	9.67%	132.80%
RBA CASH RATE +4%	0.70%	4.11%	7.94%	7.84%	6.79%	5.61%	64.8%
VALUE ADD	+0.11%	(0.74%)	+1.15%	+3.74%	+2.97%	+4.06%	+68.00%

* Inception date 05/07/2017

**Portfolio Holdings** 20 MINUTES DELAYED trade now
CODE	NAME	WEIGHT (%)	RISK	TERM	BUY DATE	BUY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	DAILY CHANGE (%)	GAIN / LOSS (%)
AGL	AGL Energy	4	Moderate	Long	23/02/2023	7.50	8.72	1.50	-0.80	36.27
AMC	Amcor	4	Moderate	Medium	27/10/2025	62.70	63.14	1.84	-0.71	3.64
ANZ	ANZ Group	5	Moderate	Medium	18/12/2024	29.36	37.95	3.26	-0.16	40.36
AN3PI	ANZ Capital Notes 6	6	Low	Long	8/07/2021	100.33	103.74	26.45	0.30	29.76
APA	APA Group	5	Moderate	Medium	26/05/2023	9.82	10.91	1.44	-0.46	25.76
BHP	BHP Group	8	Moderate	Long	11/12/2019	40.38	62.25	17.42	-2.40	97.30
CLW	Charter Hall Long Wale REIT	4	Moderate	Long	06/05/2026	3.55	3.51	.06	1.15	0.56
DBI	Dalrymple Bay Infrastructure	4	Moderate	Medium	10/10/2024	3.37	5.39	0.46	0.94	73.59
DN1	Dominion Income Trust 1	5	Low	Medium	18/06/2025	101.40	99.60	7.94	-0.18	6.06
FMG	Fortescue Metals	4	Moderate	Medium	27/06/2024	21.62	17.22	3.20	1.59	-5.55
GQG	GQG Partners	3	Moderate	Medium	08/08/2025	1.75	1.22	0.18	-1.61	-20.00
MGR	Mirvac	4	Moderate	Medium	10/03/2026	1.875	1.84	0.05	-0.81	0.80
MTS	Metcash	4	Moderate	Medium	9/12/2020	3.50	2.98	1.41	0.68	25.43
NABPI	NAB Capital Notes 6	5	Low	Long	13/07/2022	98.94	104.50	28.41	-0.17	34.33
NHC	New Hope Coal	4	High	Medium	22/11/2022	5.55	6.10	1.97	0.16	45.41
PCI	Perpetual Credit Income Trust	5	Low	Long	17/07/2024	1.11	1.10	0.14	-0.90	11.71
SOL	Soul Pattinson (W.H)	4	Moderate	Long	05/02/2026	37.68	44.22	0.68	0.07	19.16
SUN	Suncorp Group	5	Moderate	Medium	11/12/2025	17.07	19.37	1.00	0.52	19.33
SUNPI	Suncorp Hybrid	5	Low	Medium	09/04/2024	101.51	101.92	7.78	-0.74	8.07
WBCPK	Westpac Hybrid	5	Low	Long	7/09/2022	100.40	105.07	26.06	0.31	30.61

Portfolio cash position: 7%

**Recent Sales** UPDATED 21/01/2026 17:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
JBH	JB Hi-Fi	Sold 4% position	Moderate	Medium	18/08/2026	83.98	72.26	3	-10.4
CNI	Centuria Capital Group	Sold 4% position	Moderate	Medium	06/05/2026	2.06	1.69	0.27	-4.9
SUL	Super Retail Group	Sold 4% position	Moderate	Medium	26/02/2026	13.97	14.01	2.61	19
DDR	Dicker Data	Sold 3% position	High	Medium	21/01/2026	8.28	10.04	0.15	23.1
SIQ	Smart Group	Sold 4% position	Moderate	Medium	21/01/2026	7.65	8.75	0.25	17.6
NSR	National Storage	Sold 5% position	Moderate	Long	11/12/2025	2.28	2.79	0.11	27.2
HLI	Helia Group	Sold 2.5% position	High	Medium	27/10/2025	4.46	5.66	0.5	38.12
MFG	Magellan Financial Group	Sold 4% position	High	Medium	04/08/2025	8.17	10.34		26.56
MTS	Metcash	Trimmed 1%	Moderate	Medium	03/07/2025	3.5	4	1.27	50.57
CBA	Commonwealth Bank	Sold 5% position	Moderate	Medium	03/07/2025	61.33	180.26	32.4	246.75
TLS	Telstra Corp Ltd	Sold 5% position	Moderate	Medium	18/04/2025	3.43	4.9	1.07	74.05
CBAPG	Commonwealth Bank	Redeemed 5% position	Low	Long	15/04/2025	100	100	41.26	41.26
SIQ	Smart Group	Sold 4% position	Moderate	Medium	19/02/2025	8.96	7.81	0.25	-10.04
CBA	Commonwealth Bank	Trimmed 1%	Moderate	Medium	18/12/2024	61.33	159.96	28.19	206.77
MFG	Magellan Financial Group	Sold 4% position	Moderate	Medium	06/12/2024	9.42	11.22	0.43	23.67
NAB	National Australia Bank	Sold 7% position	Moderate	Medium	08/05/2024	29.64	35.06	2.39	26.35
OZBD	Composite Bond ETF	Sold 5% position	Low	Long	17/07/2024	45.28	44.04	3.07	4.04
GSBG25	Govt Bond	Sold 6% position	Low	Medium	27/06/2024	100.54	99.8	5.41	4.64
DXS	Dexus	Sold 4% position	Moderate	Medium	16/05/2024	8.02	7.26	0.56	-2.49
NABPF	NAB Hybrid	Sold 5% position	Low	Long	7/05/2024	100	106.46	27.61	34.07
ORA	Orora	Sold 4% position	Moderate	Medium	3/04/2024	2.56	2.24	0.05	-10.55
MFG	Magellan Financial Group	Sold 4% position	High	Medium	08/01/2024	8.73	9.09	0.93	14.78
WES	Wesfarmers Ltd	Sold 4% position	Moderate	Long	16/11/2023	47.85	53.94	4.16	21.42
GEM	G8 Education	Sold 3% position	Moderate	Medium	22/08/2023	1.29	1.08	0.06	-11.63
PPT	Perpetual	Sold 4% position	Moderate	Medium	27/06/2023	24.7	25.4		2.83
MXT	MCP Master Income Trust	Sold 5% position	Low	Long	15/06/2023	2	1.91	0.49	20
AGL	AGL Energy	Trimmed 1%	Moderate	Medium	21/04/2023	6.95	8.59		23.6
TLS	Telstra Corp Ltd	Trimmed 2%	Moderate	Medium	21/04/2023	3.43	4.27	0.3	33.24
WES	Wesfarmers Ltd	Trimmed 2%	Moderate	Medium	21/04/2023	47.85	52.01	2.69	14.32
SGP	Stockland	Sold 4% position	Moderate	Medium	08/02/2023	4.18	4.01	0.26	0.22
PDL	Pendal Group	Sold 4% position	Moderate	Medium	12/01/2023	4.2	3.61	1.67	25.71
BHP	BHP Group	Trimmed 2%	Moderate	Long	08/12/2022	38.56	46.42	10.16	46.73
AGL	AGL Energy	Sold 3% position	Moderate	Medium	08/12/2022	6.83	8.07		18.15
APA	APA Group	Sold 4% position	Moderate	Medium	08/12/2022	9.75	11.03		13.12
SSM	Service Stream	Sold 4% position	High	Medium	22/11/2022	1.565	0.745	0.05	-49.2
BOQ	Bank of QLD	Sold 6% position	Moderate	Medium	17/08/2022	8.7	7.37	0.31	-11.72
APA	APA Group	Sold 4% position	Low	Medium	10/08/2022	8.59	12.14	0.53	47.5
CWNHB	Crown Resorts Hybrid	Sold 4% position	Moderate	Medium	29/07/2022	98.26	102.75	3.02	7.64
IFL	Inisgnia Financial	Sold 5% position	Moderate	Medium	13/07/2022	3.59	2.73	0.4	-12.81
MFG	Magellan Financial Group	Sold 3% position	Moderate	Medium	13/07/2022	33.85	12.15	1.57	-59.47
SIQ	Smart Group	Sold 5% position	Moderate	Medium	13/07/2022	6.98	6.62	1.43	15.19
WDS	Woodside	Sold 1% position	High	Medium	15/06/2022	29.76	32.54	2.3	17.05
IGL	IVE Group Ltd	Sold 3% position	Moderate	Medium	11/05/2022	2.28	1.8	0.66	7.89
AGL	AGL Energy	Sold 3% position	Moderate	Long	03/05/2022	5.35	8.38	0.16	59.63
NSR	National Storage REIT	Sold 4% position	Moderate	Medium	13/04/2022	2.04	2.65	0.09	34.31
XARO	ActiveX Ardea Real Outcome Bon	Sold 5% position	Low	Long	13/04/2022	26.47	25.28	1.6	1.55
AWC	Alumina Ltd	Sold 4% position	Moderate	Medium	24/02/2022	2.2	1.95		-11.36
DXS	Dexus	Sold 4% position	Low	Long	25/11/2021	9.2	11.27	0.23	25

OPINION
ACTION

Recent Opinion for the Income Portfolio

01/09/2026 09:30

New Hope Corp Ltd (ASX: NHC) $6.03

New Hope (NHC) is primarily a thermal coal producer. Its two QLD operating mines both produce thermal coal for export and domestic power generation. The miner has been one of the ASX’s standout performers in 2026, rallying ~49% YTD from ~$4 as stronger thermal coal prices, solid operational delivery and improving broker sentiment drove a significant re-rating.

27/08/2026 17:53

Centuria Capital (ASX: CNI) $1.19

CNI -10.53%: Was hit hard after slightly missing EPS estimates, despite management guiding to a meaningful lift in profit in FY27. Today's reaction is overwhelmingly about Centuria Bass Credit and its A$278m exposure to collapsed developer Bathla.

25/08/2026 16:47

Dalrymple Bay Infrastructure (DBI) $5.35

DBI +2.69%: delivered another solid half, with earnings growing, distributions stepping higher and management reiterating its medium-term target for ongoing dividend growth. For a stock we primarily own for income, the result was very much in line with our expectations.

21/08/2026 17:01

GQG Partners (ASX: GQG) $1.42

GQG -4.36%: delivered a respectable 1H26 result in the face of significant fund outflows, with earnings proving more resilient than the headline FUM movements would suggest.

20/08/2026 16:49

Fortescue (ASX: FMG) $17.96

FMG -0.61%: delivered a broadly solid FY26 result, with revenue, free cash flow and the balance sheet all coming in well, although EBITDA and NPAT were a little light versus some broker expectations. The main blemish remains Iron Bridge, where higher costs and a further impairment continue to weigh on the investment case.

20/08/2026 16:48

APA Group (ASX:APA) $10.19

APA +0.89%: delivered a an inline FY26 with underlying EBITDA up 8% and strong free cash flow supporting another increase in distributions.

19/08/2026 17:33

Mirvac Group (ASX: MGR) $1.85

MGR +6.32%: delivered a respectable FY26 result and, more importantly, FY27 guidance points to another year of earnings growth despite a still-challenging property backdrop. The stock rallied strongly as investors focused on improving earnings visibility, the recovery in statutory asset values and a new A$200m buyback.

19/08/2026 09:17

Amcor PLC (ASX: AMC) $64.28

Amcor delivered a better-than-expected fourth quarter last week, with both revenue and earnings ahead of consensus and, importantly, early evidence that the Berry Global acquisition is beginning to deliver. Net sales came in at US$6.4bn, adjusted earnings per share (EPS) rose 23% to US$1.23, and the quarterly dividend was lifted 2% to US65c. The most encouraging part of the result was volumes, with modest growth returning across Amcor’s six core segments, with the momentum carrying into July after several years of destocking and subdued demand.

18/08/2026 17:02

BHP Group (ASX:BHP) $63.85

BHP +2.65%: delivered a strong FY26 result, with underlying profit, EBITDA and revenue all ahead of expectations, while the dividend was another clear positive. More importantly, the result reinforced the changing shape of the group, with copper now overtaking iron ore as BHP’s largest revenue contributor for the first time.

13/08/2026 16:48

Amcor (ASX: AMC) $66.18

AMC -0.09%: delivered a better-than-expected fourth quarter, with revenue and earnings both ahead of expectations and encouraging signs that the benefits from the Berry Global acquisition are beginning to come through. The shares were a little softer after the result, but the underlying trends were constructive, particularly around volumes, cost recovery and synergies.